(Alliance News) - Piazza Affari rebounded Tuesday morning after declines caused by investor concerns over bonds and the conflict in Gaza, with nearly all stocks in the Italian stock exchange's main basket rising by mid-session.

Meanwhile, the International Monetary Fund left its global growth forecast for 2023 unchanged, despite significant underlying differences between regions, and raised its inflation forecast for the next two years.

The updated World Economic Outlook report, released at the International Monetary Fund's annual meeting in Marrakech, maintains a global growth estimate of 3.0 percent for this year, while lowering the assessment for 2024 to 2.9 percent, down 0.1 percent from the previous forecast in July.

Inflation, down sharply from last year, is expected to remain elevated at 6.9 percent this year, up slightly from July, and 5.8 percent in 2024, up 0.6 percentage points. Higher inflation could force central banks to keep interest rates higher for longer, with a likely knock-on effect on global growth.

The FTSE Mib rises 1.5 percent to 28,102.92, Mid-Cap gains 1.4 percent to 39,276.05, Small-Cap is up 1.3 percent to 25,352.29 while Italy Growth is just below par at 8,048.01.

In Europe, London's FTSE 100 is up 1.5 percent to 7,604.99, Paris' CAC 40 is up 1.3 percent to 7,113.11 and Frankfurt's DAX 40 is up 1.5 percent to 15,356.30.

On the main list of the Italian stock exchange, the only bearish stock is Banca Monte dei Paschi di Siena, down 2.1 percent at mid-session.

All other stocks are traveling in positive territory, with Telecom Italia gaining 3.2 percent after press reports of a meeting between Treasury Minister Giancarlo Giorgetti and Meloni government cabinet chief Gaetano Caputi, who, at the request of Vivendi, which is TIM's largest shareholder, received Chairman Yannick Bollorè and CEO Arnaud de Puyfontaine.

For Vivendi, KKR's offer does not do justice to the strategic value of the infrastructure, without solving the debt problem at its root, putting the remaining company and its employees at risk. That is why the French shareholder is ready to protect its rights in the most appropriate legal venues.

KKR has been working since June 26 together with TIM management to formulate a binding offer by Oct. 15 for Netco, the company that encompasses the primary and secondary network, and Sparkle's submarine cables-which the MEF intends to take over at a later date.

Also going up is CNH Industrial, up 3.3%, dragging the entire Agnelli Galaxy, with Ferrari up 2.2%, Iveco up 2.2%, and Stellantis up 2.6%.

Banca Generali rises 0.9% after announcing Monday that it achieved net inflows of EUR373 million in September, up 42% from September 2022, bringing the total since the beginning of the year above EUR4.3 billion, up 7% from the same period last year albeit against a backdrop of high volatility in global financial markets.

On the Mid-Cap, Juventus also did well, up 0.9%, dragged by the other House stocks and despite the results of the 2022-2023 budget. In fact, the company reported that it closed the year with a loss of EUR123.7 million from EUR239.3 million in the same period last year, partly affected by negative revenue and cost effects related to the outcomes of Italian and international sports proceedings.

As of June 30, revenues and income stood at EUR507.7 million from EUR443.4 million in 2022.

Brembo rises 3.2 percent after announcing Friday that the acceptance period for the option and pre-emption offer addressed to shareholders to purchase 4.4 million shares subject to the company's withdrawal has ended.

Anima Holding is up 1.4 percent. The company reported that the group's net inflows of assets under management in September were negative EUR271 million. At the end of September, total assets under management of the Anima group stood at about EUR184 billion. The company also informed that it has taken over treasury shares for EUR2 million during the past week.

EuroGroup Laminations - up 1.5 percent - announced that it has completed the closing of the acquisition of 100 percent of the share capital of DS4, active in the design and construction of custom-made software and hardware with applications in the field of industrial automation.

The transaction has an enterprise value of approximately EUR16.5 million. The payment of the consideration was made entirely in cash, through the buyer's own means.

On the Small-Cap, Exprivia--up 3.1 percent--announced Monday that it is kicking off a buyback program of up to 5.2 million of its own ordinary shares.

The company will be able to invest a maximum of EUR8.7 million for the plan. As of today, Exprivia holds 5.2 million of its own shares.

Pierrel--up 0.3 percent clao--reported Monday that it has obtained marketing authorization in Uzbekistan for the Articaine-based dental anesthetic, Orabloc in both formulations. With this new authorization, the company explained in a note, Pierrel strengthens its commercial presence in Central Asia.

Among SMEs, Growens - in a tie - on Tuesday announced figures for the third quarter of the year, for which consolidated sales of the SaaS - Software as a Service - business line amounted to EUR12.7 million, up 4.4 percent from EUR12.2 million in the same period last year.

In this business line, the unit expressing the highest growth is Beefree, with annual recurring revenue of EUR10.9 million.

In addition, the company announced that it has signed a binding agreement to sell 100 percent of the share capital of its Dutch subsidiary Datatrics to Squeezely, a company in the Spotler Group, a leading player in marketing automation in the Netherlands and the United Kingdom, for a total consideration of EUR1.7 million.

EdiliziAcrobatica - up 5.8 percent - on Monday reported that the board of directors confirmed and extended to new CEO Anna Marras all operational and management powers in order to ensure total continuity in the group's path of growth and nternationalization, following the death of founder Riccardo Iovino.

In addition, the board appointed Tino Seminara as a new nonexecutive director.

In Asia, the Nikkei closed up 2.4 percent at 31,746.23, the Shanghai Composite was down 0.7 percent at 3,075.24, and the Hang Seng finished up 0.8 percent at 17,664.73.

In New York last night, the Dow closed up 0.6 percent to 33,604.65, the Nasdaq was up 0.4 percent to 13,484.24 and the S&P 500 was up 0.6 percent to 4,335.66.

Among currencies, the euro changed hands at USD1.0604 against USD1.0544 recorded in Monday's European stock close while the pound was worth USD1.2262 from USD1.2210 on Monday evening.

Among commodities, Brent crude is worth USD88.33 per barrel from USD88.09 per barrel at Monday's close. Gold, meanwhile, trades at USD1,858.54 an ounce from USD1,852.67 an ounce on Monday evening.

The macroeconomic calendar includes, at 1400 CEST, a speech by the European Central Bank's number one, Christine Lagarde.

At 1530 CEST, from the U.S., focus on Fed member Bostic's speech while it will be followed, at 1900 CEST, by Waller's and, at 2100 CEST, by Kashkari's.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.